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So I have some money stockpiled and I’d like to Purchase an income property. Curious if anyone here has bought a house from a sheriffs auction and how much they paid compared to assessed values. Post up your experiences.
 

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You only buy at the auction in a down market, right now all of the hedge funds are bidding the houses to high. They can afford to pay too much and hold them ten years and rent them until they appreciate enough. It’s a huge business now and it ruined the auctions.
 

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Back in the 80's I did, and I looked at it like this, if I got 1 in 10 that was a good deal.
If you are winning too easily, you are over paying!!

No clue how it is now, good luck, be careful!!!

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Holy shit you think Hedge Funds are fucking with houses and rentals?

Anything you looking to buy?...................



You only buy at the auction in a down market, right now all of the hedge funds are bidding the houses to high. They can afford to pay too much and hold them ten years and rent them until they appreciate enough. It’s a huge business now and it ruined the auctions.
 

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BTW there is more money to be made in real estate then should be allowed by law. That's why flipping houses is potentially hot.
It's all in the prices being high. Car $30,000. Boat $25,000, house $250,000

10-30% is suddenly serious money
 

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Holy shit you think Hedge Funds are fucking with houses and rentals?

Anything you looking to buy?...................
I’m in the business with a large group of investors, I was just at the auction, it’s where I get many of my buyers from.

I’m always buying but at 70% ARV minus repairs.
 

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I’m in the business with a large group of investors, I was just at the auction, it’s where I get many of my buyers from.

I’m always buying but at 70% ARV minus repairs.
A couple guys I know run groups like this. They have a full-time crew to renovate then rent until the market goes back up and then sells. One currently owns 130 units. He said he has bought and sold some of the same houses 3 times. His wife is a real estate agent and that helps a lot.
 
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